Michigan Laws 500.2626 – Manual, minimum, class rate, rating schedule, rating plan or rule; rates meeting standards
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 500.2626
- Rate: means the cost of insurance per payroll before adjustment for an individual insured's size, exposure, or loss experience. See Michigan Laws 500.2402
No manual, minimum, class rate, rating schedule, rating plan, rating rule, or any modification of any of the foregoing which has been filed pursuant to the requirements of section 2606 through 2614 shall be disapproved if the rates thereby produced meet the requirements of this chapter.